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"The ability of the participants to design, negotiate and conclude such a thorough, market-driven agreement in less than a year is remarkable. It is testimony to the power of the multilateral cooperation that continues to drive OECD work 50 years after its creation.", M. Gurría declared.

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Export restrictions on raw materials are applied to achieve a number of policy objectives. However, they can have a significant and negative impact on the efficient allocation of resources, international trade, and the competitiveness and development of industries in both exporting and importing countries.

By diverting exports to domestic markets, export restrictions raise prices for foreign consumers and importers. At the same time, by reducing domestic prices in the applying countries and increasing global uncertainty concerning future prices, export restrictions negatively affect investment, thus potentially reducing the overall supply of raw materials in the long term. In view of existing alternative policy tools that have a different impact on trade, the effectiveness of export restrictions to achieve stated policy objectives should be carefully reviewed.

This publication presents a selection of papers discussed at the OECD Workshop on Raw Materials, held in Paris in October 2009. This workshop was organised in response to the growing concern on the use of export restrictions on raw materials, particularly by emerging economies.

Commodity prices surged in 2006-08 in Argentina, Brazil, China, Chile, India, Indonesia, Russia, South Africa, Ukraine and Vietnam. Government policy responses to these price surges were not always successful in minimising the impact on consumers and producers, this report finds.

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OECD countries still dominate the world economy, but their share of world trade dropped from 73% in 1992 to 64% in 2005, and some of the world’s most important economies are not members of the OECD. Foremost among these are the so-called BRIICS: Brazil, Russia, India, Indonesia, China and South Africa.

This book analyses key elements of the trade performance of the BRIICS in relation to the rest of the world, focusing on trade and other policies influencing that performance. Developments in global trade policy are reviewed, notably the impact of preferential trade agreements on the multilateral system and patterns of world trade are described using both indices that reveal networks of trading relations and more standard modeling results.

As well as the global analysis, the book also presents a separate chapter for each of the BRIICS, examining the key development and trade issues in each of the six countries over the past few years.

Brazil, Russia, India, Indonesia, China and South Africa (the BRIICS economies) have increased their share of world trade. To build on this progress, these countries should resist protectionism and revive stalled trade reforms, says this OECD study on globalisation.

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Resisting protectionism and reviving stalled trade reforms would help the major emerging economies build on the progress achieved over the past two decades and emerge from the crisis with their trade performance strengthened, says a new OECD report.

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As the global economic slowdown threatens to increase food insecurity among the world’s poor, a new OECD report calls on the major emerging economies to ensure their agricultural policies are focussed on long-term sustainability rather than short-term fixes..